Eastman Chemical (NYSE:EMN) Posts Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Eastman Chemical (NYSE:EMN) issued its quarterly earnings data on Thursday. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.15, FiscalAI reports. Eastman Chemical had a return on equity of 8.88% and a net margin of 4.62%.The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Eastman Chemical updated its Q3 2026 guidance to 1.970-1.970 EPS.

Eastman Chemical Trading Up 4.1%

EMN stock traded up $2.74 during mid-day trading on Thursday, hitting $70.02. 2,269,424 shares of the company were exchanged, compared to its average volume of 1,127,505. The company has a quick ratio of 0.71, a current ratio of 1.47 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $8.01 billion, a P/E ratio of 20.30, a PEG ratio of 0.86 and a beta of 1.07. The business has a fifty day simple moving average of $70.80 and a 200-day simple moving average of $72.16. Eastman Chemical has a 12-month low of $56.11 and a 12-month high of $83.47.

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Monday, June 15th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Monday, June 15th. Eastman Chemical’s dividend payout ratio (DPR) is 97.39%.

Analysts Set New Price Targets

EMN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Eastman Chemical from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $82.00 target price on shares of Eastman Chemical in a research report on Tuesday, May 5th. The Goldman Sachs Group restated a “neutral” rating and set a $75.00 price target on shares of Eastman Chemical in a research report on Thursday, July 16th. Morgan Stanley lowered their price objective on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Finally, Citigroup dropped their price objective on shares of Eastman Chemical from $88.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.50.

Hedge Funds Weigh In On Eastman Chemical

Several large investors have recently made changes to their positions in the stock. MUFG Securities EMEA plc purchased a new position in shares of Eastman Chemical during the 2nd quarter worth approximately $25,000. Altshuler Shaham Ltd acquired a new position in Eastman Chemical during the fourth quarter worth $25,000. Garton & Associates Financial Advisors LLC acquired a new position in Eastman Chemical during the fourth quarter worth $27,000. Los Angeles Capital Management LLC purchased a new position in shares of Eastman Chemical during the fourth quarter worth $27,000. Finally, McMillan Office Inc. purchased a new stake in shares of Eastman Chemical in the 4th quarter valued at $29,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Eastman Chemical Company Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.